AP Moller-Maersk: Berenberg upgrades to 'hold'
(CercleFinance.com) - Broker Berenberg has upgraded its rating on Danish container shipping company AP Moller-Maersk from "neutral" to "hold," citing an improved supply/demand balance and the low level of its idle fleet.
"Maersk's shares have fallen by nearly 25% since we initiated in October 2017," the broker said in a report.
"Nevertheless, we think that book value/invested capital metrics offer some support at this level," it added, maintaining its target price of 10,000 Danish kronor for the stock.
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